52,500 Shares in Cipher Mining Inc. (NASDAQ:CIFR) Acquired by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC bought a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 52,500 shares of the company’s stock, valued at approximately $217,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CIFR. State Street Corp increased its holdings in Cipher Mining by 208.0% during the 2nd quarter. State Street Corp now owns 2,197,387 shares of the company’s stock worth $6,285,000 after acquiring an additional 1,483,836 shares during the period. Vanguard Group Inc. increased its holdings in Cipher Mining by 103.8% during the 1st quarter. Vanguard Group Inc. now owns 1,893,078 shares of the company’s stock worth $6,891,000 after acquiring an additional 964,326 shares during the period. Renaissance Technologies LLC increased its holdings in Cipher Mining by 1,738.2% during the 4th quarter. Renaissance Technologies LLC now owns 645,200 shares of the company’s stock worth $361,000 after acquiring an additional 610,100 shares during the period. BlackRock Inc. increased its holdings in Cipher Mining by 18.5% during the 2nd quarter. BlackRock Inc. now owns 2,433,554 shares of the company’s stock worth $6,960,000 after acquiring an additional 379,931 shares during the period. Finally, Vident Investment Advisory LLC increased its holdings in Cipher Mining by 2,630.5% during the 1st quarter. Vident Investment Advisory LLC now owns 392,188 shares of the company’s stock worth $1,428,000 after acquiring an additional 377,825 shares during the period. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Trading Up 7.6 %

Shares of NASDAQ:CIFR opened at $3.68 on Friday. The company’s fifty day moving average price is $3.86 and its 200-day moving average price is $3.35. Cipher Mining Inc. has a one year low of $1.76 and a one year high of $5.75. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.60 and a quick ratio of 4.60.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Tuesday, March 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. Cipher Mining had a negative net margin of 20.32% and a negative return on equity of 6.78%. The company had revenue of $43.42 million for the quarter, compared to analyst estimates of $35.73 million. As a group, analysts anticipate that Cipher Mining Inc. will post -0.15 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on CIFR. Canaccord Genuity Group reaffirmed a “buy” rating and set a $5.50 target price on shares of Cipher Mining in a report on Thursday, March 28th. HC Wainwright reissued a “buy” rating and issued a $4.50 price target on shares of Cipher Mining in a report on Tuesday, March 5th. Needham & Company LLC reissued a “buy” rating and issued a $5.00 price target on shares of Cipher Mining in a report on Monday, March 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 price target on shares of Cipher Mining in a report on Thursday, March 28th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.25.

Cipher Mining Company Profile

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.